New Mexico § 62-6-15 - Contract rate with the municipality and utilities; how established
Full text of New Mexico New Mexico Statutes Annotated § 62-6-15 — Contract rate with the municipality and utilities; how established, with citation guidance and answers to common questions.
§ 62-6-15. Contract rate with the municipality and utilities; how established
Rates and service regulations may be established by contract between the municipality
and the utility for a specified term not exceeding twenty-five years, but only by
and with the approval of the commission to be expressed by its order. Whenever any such contract shall be made, it shall, before becoming effective, be
submitted to the commission. Unless the commission shall find the provisions of any such contract inconsistent
with the public interest, the interest of the consumers and the interest of investors,
it shall approve the same, otherwise it shall disapprove the same, and, unless and
until so approved, such contract shall be of no effect, but if it be approved, it
shall be in all respects lawful. Any such new contract shall provide for a redetermination by the commission of the
reasonableness of the rates at such intervals as the commission may prescribe not
longer than five years and every order made by the commission approving any contract
shall expressly state the intervals at which redetermination of rates shall be made. For the purpose of determining whether any such contract hereafter made is consistent
with public interest, the commission shall hold such hearings, after notice, as may
be necessary to its determination. This act is intended to make rates in existing franchises and contracts subject
to the control of the commission only to the extent that the legislature may lawfully
do so. The provisions of this section shall not apply to any contract between a municipality
and a utility relating to electric power and energy sales between such entities if
the electric power and energy which is the subject of such contract is generated by
such municipality's generating facility or its interest in a jointly owned generating
facility.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 62-6-15
What does New Mexico Statutes Annotated § 62-6-15 cover?
Section 62-6-15 ("Contract rate with the municipality and utilities; how established") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 62-6-15?
A common citation format is "New Mexico Statutes Annotated § 62-6-15" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 62-6-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.